Opera Carolina Endowment
- Assets
- $4.4m
- Revenue
- $264.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 08/2006
- Data as of
- 06/2021
- EIN
- 20-2533756
Organization Overview
Opera Carolina Endowment is located in Charlotte, NC. The organization was established in 2006. According to its NTEE Classification (A6A) the organization is classified as: Opera, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Opera Carolina Endowment is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Opera Carolina Endowment generated $264.5k in total revenue. All expenses for the organization totaled $100.5k during the year ending 06/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE ONGOING EDUCATIONAL AND CULTURAL ACTIVITIES OF OPERA CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGED THE INVESTMENTS OF OPERA CAROLINA'S ENDOWMENT IN A FISCALLY SOUND MANNER TO MAXIMIZE THE FUNDS AVAILABLE TO OPERA CAROLINA FOR PROGRAMS AND OPERA PRODUCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vanessa Thorne COO | Officer | 1 | $0 |
James Meena President | Officer | 1 | $0 |
Stephen Philipson Director | Trustee | 1 | $0 |
George H Edmiston Jr Director | Trustee | 1 | $0 |
Thomas Hughes Director | Trustee | 1 | $0 |
C Wells Hall III Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $243,427 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $243,427 |
| Total Program Service Revenue | $0 |
| Investment income | $8,814 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,276 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $264,517 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $66,703 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $100,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,310 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $110,882 |
| Accounts receivable, net | $2,217,633 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,907,771 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,426,596 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,927,903 |
| Net assets with donor restrictions | $1,498,693 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,426,596 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Opera Carolina Endowment has recieved totaling $48,250.
| Awarding Organization | Amount |
|---|---|
Philip L Van Every Foundation Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $25,000 |
National Philanthropic Tr Jenkintown, PA PURPOSE: CULTURE & ARTS | $23,250 |
Endowment Analysis
| Beg. Balance | $1,384,243 |
| Earnings | $358,555 |
| Admin Expense | $12,962 |
| Net Contributions | $200,000 |
| Other Expense | $22,067 |
| Ending Balance | $1,907,769 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Atlanta Opera Inc Atlanta, GA | $26,985,184 | $12,248,438 |
Springer Opera House Arts Association Inc Columbus, GA | $18,672,738 | $4,001,433 |
Virginia Opera Assoc Inc Norfolk, VA | $2,261,019 | $3,745,037 |
Newberry Opera House Foundation Inc Newberry, SC | $5,917,873 | $3,673,500 |
Nashville Opera Association Nashville, TN | $10,829,028 | $1,740,899 |
Opera Carolina Charlotte, NC | $1,027,140 | $1,727,592 |
Knoxville Opera Company Knoxville, TN | $1,743,174 | $1,430,096 |
Opera Memphis Inc Memphis, TN | $5,037,117 | $1,438,726 |
Greensboro Opera Company Greensboro, NC | $506,881 | $836,842 |
North Carolina Opera Inc Raleigh, NC | $458,261 | $583,965 |
Piedmont Opera Inc Winstonsalem, NC | $1,581,602 | $756,973 |
Opera Roanoke Roanoke, VA | $706,514 | $476,651 |